House File 554 - Introduced HOUSE FILE 554 BY KELLEY , KEARNS , IVERSON , and KOESTER A BILL FOR An Act relating to state military service by providing mortgage 1 foreclosure and real estate protections for certain military 2 service members. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2386HH (12) 84 rh/sc

H.F. 554 Section 1. Section 29A.103, subsection 1, Code 2011, is 1 amended to read as follows: 2 1. The creditor of a service member who, prior to entry into 3 military service, has entered into a mortgage contract with the 4 service member for the purchase of real or personal property 5 shall not foreclose on the mortgage or repossess the property 6 for nonpayment or for any breach occurring during military 7 service or for nine months after release or discharge from 8 military service without an order from a court of competent 9 jurisdiction. 10 EXPLANATION 11 Current law provides that a creditor of a service member who, 12 prior to entering military service, entered into a mortgage 13 contract with the service member for the purchase of real 14 or personal property shall not foreclose on the mortgage or 15 repossess the property for nonpayment or for any breach during 16 the service member’s military service without an order from 17 a court of competent jurisdiction. The bill extends this 18 protection against mortgage foreclosures for nine months 19 after the service member’s release or discharge from military 20 service. 21 -1- LSB 2386HH (12) 84 rh/sc 1/ 1